Question: Solve the following problem in class. The quarterly demand for smartphones at a retailer is as show. Year Quarter Demand 1 I 513 1 II

Solve the following problem in class.

The quarterly demand for smartphones at a retailer is as show.

Year

Quarter

Demand

1

I

513

1

II

932

1

III

1509

1

IV

1902

2

I

693

2

II

1163

2

III

1857

2

IV

2469

Forecast the quarter 1 demand for year 3 using the following models:

4-quarter simple moving average.

Simple exponential smoothing with = 0.1. We assume that the forecasted value of quarter 1 is 500.

Which method is the most accurate and why?

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